Trade Deficit Decreases As Exports Grow More Than Imports

Web Desk (September 12, 2018): Pakistan’s trade deficit decreased to $6.2 billion in the first two months of the present financial year owing to the increasing pace of exports in comparison to the imports. This shrinkage reveals that the administrative measures that the government adapted have started to give results.

According to the reports of the Pakistan Bureau of Statistics, the trade deficit for the span July-August was 1.3 per cent which is lower than the deficit recorded in the same timeframe of the last financial year.The deficit was $78 million lesser than the deficit of the same period last year.

The exports in July-August FY19 hiked by 5.1 per cent to $3.7 billion. In definite terms, the export receipts were $176 million more than the amount of the same period last year.

Imports were recorded at $9.83 billion which was only 1 per cent or $98 million more than the import bill in the same period of the last fiscal year.The State Bank of Pakistan since the December 2017 has let the rupee to depreciate against the US dollar by around 14.9 per cent to rupees 123.93 to a dollar.